Rwanda pens partnership with Jersey to boost transformation

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Rwanda pens partnership with Jersey to boost transformation

The government of Rwanda has signed a memorandum of understanding with the government of Jersey in a bid to complement its efforts to reduce poverty, raise living of standards as well as economic growth.

The understanding signed on the sidelines of the world Economic forum on Africa in Kigali covers agriculture, financial services, tourism, conservation, culture, education, and ICT as the areas of partnership.

“This underlines the longstanding links between our two governments and shared commitment to further develop our mutually beneficial relationship,” said Amb. Claver Gatete, Minister of Finance and Economic Planning.

He adds, “I look forward to working with colleagues in Jersey in the years ahead as Rwanda continues its transition to a knowledge based middle income economy.”

The understanding follows the Double Taxation Agreement signed between Rwanda and Jersey in 2015 contributed to flows of foreign direct investment as well as partnership in the Girinka (one cow per family) program in 2000.

The Government of Jersey, the world’s leading international finance centres and is banked on to further help Rwanda to strengthen its financial sector that is leaping towards technology based.

“Rwanda’s financial services industry has made great progress in recent years and Jersey’s expertise in this area will lead to financial services being a fruitful area of cooperation,” Gatete said on Thursday.

The understanding Jersey’s commitment to support Rwanda in creating employment opportunities and will seek to improve general welfare by supporting the liberalisation and expansion of trade and investment.

According to Senator Philip Ozouf, Jersey’s Minister for Financial Services, Digital & Innovation the agreement will further strengthen the existing Rwanda – Jersey relationship which goes back more than a decade.

“We are confident in Rwanda’s future – as a regional hub and knowledge based economy. Economic development is realised through partnerships and cooperation,” he said.

He says with similar values between two governments, the memorandum will catalyse tangible actions that will contribute to the achievement of the Vision 2020 objectives.

 

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Olive Ndaka is the Junior Editor for RwandaEye. An investor and young entrepreneur, she is a quick learner and has contributed many articles for RwandaEye in Kinyarwanda.

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